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Raheja QBE Zero Depreciation Car Insurance
Depreciation means your car loses value as it gets older because of regular use and wear and tear. Because of this, insurance companies charge a higher premium for older cars, and they also pay a lower claim amount.
To avoid losing money and to get a higher claim, it is good to choose the Raheja QBE Zero Depreciation Add-On Cover. With this add-on, the insurance company does not cut any money for depreciation when calculating your claim.
This means you get the full claim amount for repairing your car, except for any required deductibles. You have to pay a small extra premium to add this cover to your basic insurance policy.
Depreciation Rate of Car- Without and With Raheja QBE Zero Depreciation Add-On
| Age of Car | Without the Zero Depreciation add-on | With the Zero Depreciation add-on |
|---|---|---|
| Under 6 months | Nil | 0% |
| 6 months to 1 year | 5% | 0% |
| 1 to 2 years | 10% | 0% |
| 2 to 3 years | 15% | 0% |
| 3 to 4 years | 25% | 0% |
| 4 to 5 years | 35% | 0% |
| 5 to 10 years | 40% | 0% |
| More than 10 years | 50% | 0% |
Depreciation Rates According to the Parts of the Car
| Parts of a Car | Without Zero Depreciation | With Zero Depreciation |
|---|---|---|
| Rubber/Nylon/Plastic parts | 50% | 0% |
| Fibre Glass Parts | 30% | 0% |
| Glass Parts | Nil | 0% |
Disclaimer: The given depreciation rates in the above tables are indicative. Check your policy document to get the exact terms and conditions.
Motor Insurance Plans By Raheja QBE
Benefits of Zero Depreciation Add-On Cover
The Zero Depreciation Add-On Cover gives you extra benefits and helps you get more money when making a claim:
- 01
Higher Claim Amount
With this cover, you get the full claim amount without any deduction for your car’s age or wear and tear. Raheja QBE pays for the depreciation cost, so you don’t have to.
- 02
Covers Cars Up to 10 Years Old
You can buy this add-on for cars that are up to 10 years old. Even if your car is a few years old, you can still get full claim benefits.
- 03
Unlimited Claims
Raheja QBE allows you to make as many claims as needed under this cover, unlike some other insurers.
FAQs
Normally, the value of your car and its parts reduces over time. With zero depreciation, Raheja QBE does not cut any amount for this loss in value.
Yes. All these parts are covered without any depreciation deduction. You get full repair costs for them.
Yes. It comes with a small additional premium. But the extra cost is worth it because you save more during claims.
Usually, zero depreciation does not apply to total loss or theft claims. It mainly helps with repair claims after accidents.
No. You can only add zero depreciation to a comprehensive or own-damage policy. It cannot be added to a third-party-only plan.